Re: Can Post-tax Dollars Be Added to an IRA Annuity?

[ShawnBrooks]

I have clients that have rolled over their old IRA/401K's from previous jobs into fixed indexed annuities (and are no longer contributing to those IRA's). can they add post-tax dollars to these annuities or are they not allowed to mix "qualified" funds with "non-qualified" ?

 

[Norwayguy]

I have clients that have rolled over their old IRA/401K's from previous jobs into fixed indexed annuities (and are no longer contributing to those IRA's). can they add post-tax dollars to these annuities or are they not allowed to mix "qualified" funds with "non-qualified" ?

I am assuming since you said rolled over these policies are qualified policies, I am also assuming they are traditional IRA's and though they can not add post tax dollars ala Roth contributions they should be able to do normal IRA contributions tax deductible assuming thier income allows the deductions.

 

[agent m]

If you set up the annuity and know it to allow modal contributions then you are good, provided terms of the above comment are met. If not you should check that modal contributions are allowed. Some index can be single premium or 1st year contributions only. I'm sure that is not the case otherwise, why would you be working on it, but you never know.